https://www.taxtmi.com/caselaws?id=330404 The appeal by the assessee was partly allowed. The claim for carry forward of business loss was dismissed due to exceeding the 8-year limit. However, the set-off/carry forward of unabsorbed depreciation was allowed indefinitely following a relevant amendment removing the 8-year restriction. Additionally, the disallowance of interest payment was overturned as the Tribunal found the higher interest rate justified. The order was pronounced on 11-07-2016. en-us Mon, 11 Jul 2016 00:00:00 +0530 Mon, 25 Jul 2016 11:46:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330404 The appeal by the assessee was partly allowed. The claim for carry forward of business loss was dismissed due to exceeding the 8-year limit. However, the set-off/carry forward of unabsorbed depreciation was allowed indefinitely following a relevant amendment removing the 8-year restriction. Additionally, the disallowance of interest payment was overturned as the Tribunal found the higher interest rate justified. The order was pronounced on 11-07-2016. Case-Laws Income Tax Mon, 11 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330404